Home Business Vishal Sikka resigns as CEO from Indian giant IT firm Infosys

Vishal Sikka resigns as CEO from Indian giant IT firm Infosys

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Vishal Sikka resign as CEO and MD of Infosys
Image Source : indiatvnews.com

After three years of endless contribution, Vishal Sikka, Indian American CEO and MD of Infosys resigned from his posts with immediate effect on Friday.

Sikka mentioned the reasons behind his decision to resign as managing director and chief executive officer of the company in a blog post.

He shared the blog on his Twitter handle with a caption, ‘moving on’.

Meanwhile, Infosys said Sikka has now been appointed as executive vice-chairman. U B Pravin Rao has been given the interim responsibility for both the vacated posts.

In the letter Mr Sikka said the “continuous drumbeat of distractions” contributed to his decision to resign.It follows public criticism of the company and its board by its founders. Infosys is one of India’s largest IT services firms. Shares of the firm tumbled 7%.

Mr Sikka was appointed in June 2014 and tasked with turning around the struggling business.He did very well in doing so but his relationship with former boses and promoters of Infosys was never a smooth run, especially with Narayan Murthy. Mr. Murty was unhappy with Sikka due to various reason and decision  of him including his take home salary.

The firm’s founders, who still own 12.75% of Infosys, had questioned a pay rise granted to Mr Sikka and the size of severance payouts given to other employees.

In his resignation letter, Mr Sikka careens through a wide range of topics – from artificial intelligence, to the Charlottesville tragedy, Brexit and US President Donald Trump – as he explains his decision to step down.

 

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